Financial Statement Components

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Cash and cash equivalents consisted of the following (in thousands):


	December 31,
	2023		2022
Cash	$	69,566	$	123,260
Money market funds	66,661		37,560
Certificates of deposit	493		—
U.S. Treasury	4,983		19,700
Commercial paper	1,498		—
Total cash and cash equivalents	$	143,201	$	180,520

Accounts receivable, net consisted of the following (in thousands):


	December 31,
	2023		2022
Trade accounts receivable	$	86,912	$	77,621
Unbilled trade accounts receivable, net of advance client deposits	10,776		10,135
Provision for credit losses	(264)		(262)
Accounts receivable, net	$	97,424	$	87,494

Prepaid expenses and other current assets consisted of the following (in thousands):


	December 31,
	2023		2022
Prepaid expenses	$	22,023	$	17,151
Other current assets	8,493		9,159
Contract assets	4,106		3,401
Prepaid expenses and other current assets	$	34,622	$	29,711

Property and equipment, net consisted of the following (in thousands):


	December 31,
	2023		2022
Computer and network equipment	$	155,997	$	148,789
Computer software	59,452		50,955
Internal-use software development costs	19,734		6,111
Furniture and fixtures	4,666		3,326
Leasehold improvements	6,425		6,574
Property and equipment	246,274		215,755
Accumulated depreciation and amortization	(137,702)		(114,534)
Property and equipment, net	$	108,572	$	101,221

Depreciation and amortization expense associated with property and equipment was $36.5 million, $33.0 million and $26.9 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Property and equipment capitalized under finance lease obligations consists primarily of computer and network equipment and was immaterial as of December 31, 2023 and 2022.

Other assets consisted of the following (in thousands):


	December 31,
	2023		2022
Other assets	$	10,433	$	5,081
Equity investment in a privately-held company	2,000		2,000
Deferred tax assets	3,766		3,976
Other assets	$	16,199	$	11,057

Accrued and other current liabilities consisted of the following (in thousands):


	December 31,
	2023		2022
Accrued expenses	$	18,282	$	19,343
Accrued compensation and benefits	35,927		33,749
Accrued federal fees	4,166		2,471
Sales tax liabilities	3,756		2,973

Accrued and other current liabilities	$	62,131	$	58,536

Other long-term liabilities consisted of the following (in thousands):


	December 31,
	2023		2022
Deferred revenue	$	1,350	$	1,178
Deferred tax liabilities	—		157
Sales tax liabilities	926		899
Other long-term liabilities	5,612		1,745
Other long-term liabilities	$	7,888	$	3,979